Just months after Netflix struck a deal to acquire the Warner Bros. studio, HBO, HBO Max, and Warner Games, the streaming giant has backed out of the arrangement, declining to raise its offer beyond Paramount’s “best and final” bid. Once Netflix and Warner Bros. came to an agreement on December 5th, Paramount tried to force its way into the deal, announcing a hostile bid worth $108.4 billion in cash. Unlike Netflix’s deal, Paramount’s includes an acquisition of all of Warner Bros. Warner Bros. Discovery determined that the deal is “superior,” leading Netflix to walk away, saying it’s “no longer financially attractive.”